If you deposit $5,000 in an account that earns 2% interest, compounded continuously, how much money will be in the account after
1 answer:
Answer:
$5751.37
Step-by-step explanation:
The key phrase here is "compounded continuously". This phrase tells you that you must use the following equation:
Where A is the final amount, P is the principal amount, e is the exponential constant, r is the rate in decimals and t is time. By plugging in our known values given we obtain:
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Answer:
It’s A
Step-by-step explanation:
Cuz it’s just the numbers are replaced in different places but when u multiply u get the same ans ig
Answer:
n=350
Step-by-step explanation:
Notation and definitions
random sample taken (variable of interest)
estimated proportion (value assumed)
true population proportion
Confidence =0.95 or 95% (value assumed)
Me=0.05 (value assumed)
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The population proportion have the following distribution
In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 95% of confidence, our significance level would be given by and
. And the critical value would be given by:
The margin of error for the proportion interval is given by this formula:
(a)
And on this case we have that and we are interested in order to find the value of n, if we solve n from equation (a) we got:
(b)
And replacing into equation (b) the values from part a we got:
And rounded up we have that n=350